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Wings Corner

Income Statement
As of December 31, 2017-2021
2017 2018 2019
Sales 3,084,480.00 3,238,704.00 3,400,677.00
Less:
Cost of Good Sold 734,185.00 755,228.02 777,322.02

Gross Profit 2,350,295.00 2,483,475.98 2,623,354.98


Less:Operating Expense
Store Supplies Expense 27,900.00 29,295.00 30,759.75
Office Supplies Expense 2576.00 2704.80 2840.04
Uniform Expense 1,175.00 1,175.00 1,175.00
Rent Expense 576,000.00 576,000.00 576,000.00
Advertising Expense 1700.00 1200.00 1200.00
Transportation Expense 14,400.00 15,180.00 15,936.00
Salaries Expense 104,448.00 104,448.00 104,448.00
13 Month 34,816.00 34,816.00 34,816.00
SSS Contribution Expense 11,531.40 12,540.00 12,540.00
Philhealth Contribution Expense 2187.50 2550.00 2550.00
HDMF Contribution Expense 2,200.00 2,400.00 2,400.00
Taxes and licenses & fee 7,500.00 7,500.00 7,500.00
Utilities Expense 12,480.00 13,104.00 13,759.20
Depn Exp- Kitchen Equipment 1,000.00 1,000.50 1,102.50
Depn Exp -Furniture and Fixture 500.00 525.00 551.20
Depn Exp- Delivery vehicle 1,500.00 1,575.00 1,653.75
Total Expense 801,913.90 806,013.30 809,231.44

Net Income 1,548,381.10 1,677,462.68 1,814,123.54

Less: 30% Income Tax 464,514.33 503,238.80 544,237.06

Net Income After Income Tax 1,083,866.77 1,174,223.88 1,269,886.48


2020 2021
3,570,588.00 3,749,193.00

800,521.13 824,879.99

2,770,066.87 2,924,313.01

32,297.74 33,912.63
2982.04 3131.14
1,175.00 1,175.00
576,000.00 576,000.00
1200.00 1200.00
16,732.80 17,569.44
104,448.00 104,448.00
34,816.00 34,816.00
12,540.00 12,540.00
2550.00 2550.00
2,400.00 2,400.00
7,500.00 7,500.00
14,447.16 15,199.52
1,157.63 1,215.51
578.81 607.75
1,736.44 1,823.86
812,561.62 816,088.85

1,957,505.25 2,108,224.16

587,251.58 632,467.25

1,370,253.67 1,475,756.91
Wings Corner
Projected Changes in Owners Equity
For The year Ending December 31, Year 1- year 5
Total Amount Partner A Partner B
2018
Capital, 2018 1,500,000.00 250,000 250,000
Add Net income 1,083,866.77 180,644.46 180,644.46
Less Partners withdrawal during The year - - -
Capital, 2019 2,583,866.77 430,644.46 430,644.46
2019
Capital, 2019 2,583,866.77 430,644.46 430,644.46
Add Net income 1,174,223.88 195,703.98 195,703.98
Less Partners withdrawal during The year - - -
Capital, 2020 3,758,090.65 626,348.44 626,348.44
2020
Capital, 2019 3758090.65 626,348.44 626,348.44
Add Net income 1,269,886.48 211647.75 211647.75
Less Partners withdrawal during The year - - -
Capital, 2021 5,027,977.13 837,996.19 837,996.19
2021
Capital, 2019 5,027,977.13 837,996.19 837,996.19
Add Net income 1,370,253.67 228,375.61 228,375.61
Less Partners withdrawal during The year - - -
Capital, 2022 6,398,230.80 1,066,371.80 1,066,371.80
2022
Capital, 2022 6,398,230.80 1,066,371.80 1,066,371.80
Add Net income 1,475,756.91 245,959.49 245,959.49
Less Partners withdrawal during The year - - -
Capital, 2023 7,873,987.71 1,312,331.29 1,312,331.29
er
wners Equity
r 31, Year 1- year 5
Partner C Partner D Partner E Partner F

250,000 250,000 250,000 250,000


180,644.46 180,644.46 180,644.46 180,644.46
- - - -
430,644.46 430,644.46 430,644.46 430,644.46

430,644.46 430,644.46 430,644.46 430,644.46


195,703.98 195,703.98 195,703.98 195,703.98
- - - -
626,348.44 626,348.44 626,348.44 626,348.44

626,348.44 626,348.44 626,348.44 626,348.44


211647.75 211647.75 211647.75 211647.75
- - - -
837,996.19 837,996.19 837,996.19 837,996.19

837,996.19 837,996.19 837,996.19 837,996.19


228,375.61 228,375.61 228,375.61 228,375.61
- - - -
1,066,371.80 1,066,371.80 1,066,371.80 1,066,371.80

1,066,371.80 1,066,371.80 1,066,371.80 1,066,371.80


245,959.49 245,959.49 245,959.49 245,959.49
- - - -
1,312,331.29 1,312,331.29 1,312,331.29 1,312,331.29
Wings Corner
Statement of Cash flow
As of December 31, 2017-2021
2018 2019
Operating activities
Sales 3,084,480.00 3,238,704
Cash paid for
Raw Material (420,841.92) (441,884.02)
Store Supply (27,900.00) (29,295.00)
Office Supply (2,576.00) (2,704.80)
Uniform (1,175.00) (1,175.00)
Rent (576,000.00) (576,000.00)
Transportation (14,400.00) (15,180.00)
Salaries (417,792.00) (113,152.00)
13 month (34,816.00) (34,816.00)
Advertising (1,700.00) (1,200.00)
Licensing and Permit (7,500.00) (7,500.00)
Utilities Expense (420,841.92) (441,884.02)
SSS Contibution (12,540.00) (12,540.00)
HDMF Contribution (2,400.00) (2,400.00)
PHIC Contribution (2,550.00) (2,550.00)
Tax (464,514.33) (503,238.80)
Net Cash Provided from Operation (2,407,547.17) (2,185,519.64)

Investing Activities
Cash paid For
Purchasing Kitchen Equipment (15870.00) (15870.00)
Purchasing Delivery Vehicle (79,998.00) (79,998.00)
Furniture and Fixture (5,000.00) (5,000.00)
Net Cash Provide from Operation (100,868.00) (100,868.00)

Financing Activities
Capital 1,500,000.00 2,583,866.77
Net Cash Prrovide From Financing Activities 1,500,000.00 2,583,866.77

Total Cash 2,076,064.83 3,536,183.13


SSS Contribution Payable 12,540.00 12,540.00
PHIC Contribution Payable 2,550 2,550
HDMF Contribution Payable 2400 2400

Income Tax payable 624,396.56 728,554.02

Net Increase (Decrease) in Cash flow 1,074,965.04 1,090,550

Cash Balance at January 1 - 1,074,965.04


Cash Balance at December 31 1,074,965.04 2,165,515
ner
ash flow
, 2017-2021
2020 2021 2022

3,400,677 3,570,588.00 3,749,193.00

(463,978.22) (487,177.13) (511,535.99)


(30,759.75) (32,297.74) (33,912.63)
(2,840.04) (2,982.04) (3,131.14)
(1,175.00) (1,175.00) (1,175.00)
(576,000.00) (576,000.00) (576,000.00)
(15,936.00) (16,732.80) (17,569.44)
(113,152.00) (113,152.00) (113,152.00)
(34,816.00) (34,816.00) (34,816.00)
(1,200.00) (1,200.00) (1,200.00)
(7,500.00) (7,500.00) (7,500.00)
(463,978.22) (487,177.13) (511,535.99)
(12,540.00) (12,540.00) (12,540.00)
(2,400.00) (2,400.00) (2,400.00)
(2,550.00) (2,550.00) (2,550.00)
(544,237.06) (587,251.58) (632,467.25)
(2,273,062.29) (2,364,951.42) (2,461,485.44)

(15870.00) (15870.00) (15870.00)


(79,998.00) (79,998.00) (79,998.00)
(5,000.00) (5,000.00) (5,000.00)
(100,868.00) (100,868.00) (100,868.00)

3,758,090.65 5,027,977.13 6,398,230.80


3,758,090.65 5,027,977.13 6,398,230.80

4,784,837.36 6,132,745.71 7,585,070.36


12,540.00 12,540.00 12,540.00
2,550 2,550 2,550
2400 2400 2400

843,650.41 970,806.21 1,111,254.32

1,101,220 1,105,960.01 1,104,199.79

2,165,515 3,266,735 4,372,695.01


3,266,735 4,372,695.01 5,476,894.80
Wings Corner
Projected Balance Sheet
As of December 31, 2017-2021
2018 2019 2020
Asset
Current Asset
Cash 2,076,064.83 3,536,183.13 4,784,837.36
Prepaid Rent 411,000.00 125,000.00 146,000.00
Store Supplies 355.04 610.62 1,000.32

Non Current Asset


kitchen Equipment 15,870 15,870 15,870
Less:(Accumulated Depreciation) (1,000.00) (1,050.00) (1,102.50)
Furnture and Fixture 5000 5000 5000
Less:(Accumulated Depreciation) (500.00) (525.00) (551.20)
Delivery Vehicle 79,998.00 79,998.00 79,998.00
Less:(Accumulated Depreciation) (1500.00) (1,575.00) (1,653.75)

Total Asset 2,585,287.87 3,759,511.75 5,029,398.23

Liabilities
SSS Contribution Payable 1,008.60 1,008.60 1,008.60
PHIC Contribution Payable 212.50 212.50 212.50
HDMF Contribution payable 200 200 200

Total Liabilities 1,421.10 1,421.10 1,421.10

EQUITY
Capital 2,583,866.77 3,758,090.65 5,027,977.13

Total Liabilities and Capital 2,585,287.87 3,759,511.75 5,029,398.23


2021 2022

6,132,745.71 7,585,070.36
168,000.00 191,000.00
1511.07 2116.97

15,870 15,870
(1,157.63) (1,215.51)
5000 5000
(578.81) (607.75)
79,998.00 79,998.00
(1,736.44) (1,823.26)

6,399,651.90 7,875,408.81

1,008.60 1,008.60
212.50 212.50
200 200

1,421.10 1,421.10

6,398,230.80 7873987.71

6,399,651.90 7,875,408.81

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